Strategy Halts Bitcoin Acquisitions, Leverages Equity Markets to Strengthen Reserves

Strategy Inc., the world’s largest corporate holder of Bitcoin, remained passive in its cryptocurrency investments for a second consecutive week while raising substantial capital through equity offerings to enhance liquidity.

According to a recent Form 8-K filing, the company did not execute any Bitcoin purchases or sales during the week of July 13-19, 2026, maintaining its treasury holdings at 843,775 BTC. The position’s total purchase cost reached $63.69 billion, resulting in an average acquisition price of $75,476 per Bitcoin.

Instead of liquidating Bitcoin assets, Strategy opted to access equity markets for additional funding. During the week, the company sold 2.73 million shares of Class A common stock via its at-the-market (ATM) offering program, generating $263.5 million in net proceeds. These funds increased the company’s U.S. dollar cash reserves to $3.2 billion from $3.0 billion in the prior week, supporting preferred stock dividends and debt servicing obligations.

This strategy follows recent Bitcoin liquidations in late June and early July, where the company sold 3,588 BTC for approximately $216 million, achieving an average price range of $59,000 to $61,000 per coin—well below its historical cost basis. The company also anticipates reporting an $8.32 billion unrealized loss on digital asset holdings for Q2 2026, attributing much of the decline to reduced Bitcoin market valuations, which have lowered the carrying value of its digital assets to $49.67 billion. Concurrently, the drop in asset values has necessitated recording a full valuation allowance against deferred tax benefits related to these holdings.

A Bitcoin Monetization Program, initiated in late June and authorized for up to $1.25 billion in potential Bitcoin sales, remains unutilized to date.

Significance of the Shift

Strategy’s two-week holding pattern and increased reliance on equity issuance signal a strategic pivot from aggressive accumulation to safeguarding its balance sheet—a significant evolution for a firm historically synonymous with continuous Bitcoin purchasing.

Continued adherence to this approach may erode Market Sharp Electronics’ reputation as a Bitcoin benchmark and raise questions about dividend sustainability if low cryptocurrency prices persist.

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